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Varoufakis' piece in the Guardian:

If Trump wants to blow up the world order, who will stop him?

There is, of course, little doubt that with Trump in the White House there is an awful lot we should be angst-ridden about. However, the establishment's reaction to the president's shenanigans, in the United States and in Europe, is perhaps an even greater worry for progressives, replete as it is with dangerous wishful thinking and copious miscalculation.

Some put their faith in the Mueller investigation, assuming that Mike Pence would be kinder to them as president. Others are holding their breath until 2020, refusing to consider the possibility of a second term. What they all fail to grasp is the very real tectonic shifts underpinning Trump's uncouth antics.

Then, there is this:

Behind the scenes, Trump astonished Nancy Pelosi, the Democrat's leader in the House of Representatives, by approving every single social program that she asked of him. As a result, the federal government is running the largest budget deficit in America's history when the rate of unemployment is less than 4%.

Whatever one thinks of this president, he is giving money away not only to the richest, who of course get the most, but also to many poor people. With demonstrably strong employment, especially among African American workers, inflation under control and the stock market still buoyant, Donald Trump has his home front covered as he travels to foreign lands to confront friends and foes.


[my emphasis]

[citation needed] : I haven't followed the US politics (or economics) very closely, but are there any facts and figures to support the above?

by Bernard on Wed Jun 13th, 2018 at 08:21:15 PM EST
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Trump is running enormous deficits - These are aimed at the rich, but on this scale, some of it does bleed through into demand. The Fed is, of course, moving to pull this money back out of circulation to guarantee that a situation with full employment comes about does not happen.

.. Which means Trump would have to also take on the fed to actually accomplish anything on this front.

by Thomas on Sun Jun 17th, 2018 at 09:15:03 AM EST
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Fed Raises Interest Rates and Signals 2 More Increases Are Coming -> "malinvestment"

Diversity is the key to economic and political evolution.
by Cat on Sun Jun 17th, 2018 at 12:26:43 PM EST
[ Parent ]

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